ECONOMIC FREEDOM AND ELECTRICITY CONSUMPTION THE IMPACT OF INTERNET USAGE ON ECONOMIC PERFORMANCE
ECONOMIC FREEDOM AND ELECTRICITY CONSUMPTION THE IMPACT OF INTERNET USAGE ON ECONOMIC PERFORMANCE

Summary/Abstract: This study aims to investigate the relationship, if any, between economic freedom, human development, electricity consumption, internet usage and economic growth. The annual panel data are collected for eleven developing countries in the period of 1995-2017. In the light of methodology, this research employs the panel VAR methodology and the Granger causality test. Empirical findings outline two-way causal linkage between human development and economic growth; economic freedom and economic growth; internet usage and economic growth. However, results of this study display one-way causality spanning from electricity consumption to economic growth. Herein, the selected eleven countries should promote economic freedom by providing a legal structure and a law-enforcement system that protect the property rights of owners. In addition, governments should focus on improving the lives people lead rather than assuming that economic growth will lead, automatically, to greater wellbeing for all. Overall, this study argues that a better understanding of how everyday practices are shifting, in concert with the provision and design of online services, could provide a basis for the policies and initiatives needed to promote economic performance.

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